CSN to increase steel prices by 10 and 15 percent in April

Tuesday, 16 March 2021 01:01:50 (GMT+3)   |   Sao Paulo
       

Brazilian steelmaker Companhia Siderurgica Nacional (CSN) is expected to increase steel prices in April by up to 15 percent, according to a media report by Valor.

The media report said CSN plans to increase the price of certain products to 10 percent, while others, such as rebar, would increase by 15 percent. The price hike will be effective on April 1, 2021.

Luiz Fernando Martinez, CSN’s commercial director, said the hikes are due to a weaker BRL currency over the USD, the price of certain USD-denominated raw materials, and steady domestic steel demand.

Martinez said HRC is sold at $760/mt-780/mt in China, while in Brazil the same product is sold at a much cheaper price. He didn’t, however, give a specific price for the product in Brazil, according to Valor.


Most Recent Related Articles

Tombador Iron signs multiple logistics contracts to export iron ore from Brazil

Votorantim posts increased adjusted EBITDA for its long steel business in full-year 2020

Brazilian civil construction activity improves in February

Brazilian steel industry expects Biden to review steel quotas

Brazil’s CSN raises $892.3 million with additional mining stock offering